The recent problems surrounding Chinese drywall have beencompared to everything from a silent hurricane to the nextasbestos. But how do the costs really compare to a hurricane?
Are we more likely to see thequick settlement of claims typical of property damage fromhurricanes, or the long reporting lags and hard-fought legalbattles typical of asbestos claims?
Based on publicly available information and experience inestimating past construction-related torts, we estimate totaleconomic losses could fall in the $15 billion to $25 billionrange–numbers that rival some hurricanes but fall far short of theprice tag for asbestos.
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